Cryptocurrencies have a long history, dating back to the 1980s when they were known as cyber currencies. With the advent of Bitcoin, which was established by an anonymous programmer or group of programmers under the name Satoshi Nakamoto in 2008, these coins began to acquire prominence.
Encryption was first discussed in 1989, and American cryptographer David Chaum devised digital cash a few years later in 1980, relying on cryptography to protect and verify transactions. However, cryptographic protocols and software that would allow for the establishment of a genuinely decentralized digital currency did not start development until the early 1990s.
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